Trump's Crypto Divestiture Plan Could Trigger Big Tax Windfall

A bipartisan ethics proposal to get landmark crypto legislation passed in Congress could benefit President Donald Trump financially. The plan requires him to divest from crypto-related businesses, which would allow him to defer paying federal taxes on any capital gains.

The provision is part of the proposed ethics addendum to the crypto bill, currently being negotiated between the White House and lawmakers. According to people familiar with the matter, who asked for anonymity to discuss non-public matters, forced divestiture could potentially allow Trump to defer paying federal taxes on his crypto holdings for years, if ever.

The exact terms of the provision are still being worked out, but it is expected to include a requirement for Trump to divest from his crypto-related businesses. This move would be seen as a way to get the landmark crypto legislation over the line in Congress.